Annual Taxes - Humor In The Drudgery: Difference between revisions
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Revision as of 05:51, 22 September 2024
Leave it to lawyers and the us govenment to be unable to give a straight answer to this ask yourself! Unfortunately, in order to be qualified for wipe out a tax debt, the numbers of five criteria that should be satisfied.
Remember, a personal exemption of $3650 is not deducted on tax but on your taxable income. Say for example your filing status is 'married filing jointly' with original taxable income of $100,000. This making you under the marginal tax rate of 25%. The actual money you can lay aside on personal exemption is $912.50 (calculation is simple: $3650 multiplied by 25%). For or else you spouse, to be multiplied by two which save $1825.
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